Here's Transportation Daily's view on the last minute efforts by Congress to craft an acceptable new Transportation Bill:

"Although SAFETEA-LU [the last Transportation bill] expires on June 30, there are only about six legislative days in which to pass a new bill or an extension.

"I think the tea leaves show an extension of SAFETEA-LU instead of a new bill. Time has essentially run out for enacting a new bill by June 30. It takes some time to craft an extension bill; by the end of this week, legislative counsel and policy staff will have to turn their efforts to drafting language to extend SAFETEA-LU."

Our note: Funding for the potential Full Funding Grant Agreement needs a new transportation bill.